Northeast Indiana Innovation Center Provides Early Stage Capital Funding & Entrepreneurial Business Assistance to Two Innovative Student Businesses

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The Innovation Center funds innovative student ventures giving students the opportunity to have an entrepreneurial practice field for testing, validating, and improving their innovative business concepts and business ventures

The Innovation Center invests in the dreams of students who are making a difference in Northeast Indiana," said Karl LaPan, NIIC CEO

The Northeast Indiana Innovation Center (http://www.niic.net) is pleased to announce the entry of two new student venture companies into NIIC’s nationally recognized Student Venture Lab program. Live Capture Sound LLC and D-n-S Design Company have both moved in and begun the venture start-up process this month.

As part of the Student Venture Lab program (http://www.niic.net/services/student-venture-entrepreneurship-programs), student companies receive an early stage funding investment (typically $3,000) and six months of office space & business services at the Northeast Indiana Innovation Campus (an in-kind investment valued at $3,000) in exchange for a small amount of equity in the student venture.

During the six month period, the student ventures use the lean start-up canvas and customer development tools to create a product demonstration, a business model, and validate both of those with prospective customers. Ventures receive one-on-one coaching from Mike Fritsch, the Innovation Center’s Entrepreneur-In-Residence (http://www.niic.net/staff/mike-fritsch).

At the end of the six month term, each venture will demonstrate their product and their customer-validated business model at Demo Day to investors, bankers, and other leaders of the region’s business and technology community. Ventures that have shown tangible progress during the first six months may receive up to two additional phases of follow-on business funding (totaling over $8,500 in additional early stage capital) and office space & business services to accelerate their venture's growth and development.

Live Capture Sound LLC is led by Jeremy Harmeyer, a student at University of St. Francis and Andrew Miller, a recent graduate. Live Capture offers live event production and sound recording as well as recorded advertisements. Live Capture aims at delivering the highest quality product without the high cost. Live Capture provides records and produces live sound for musicians, venues, TV and radio ads, video games, Internet videos, and any other application requiring quality sound.

D-n-S Design Company is led by Lindal Walker and Matthew Vanlandingham, both students at ITT Technical Institute. D-n-S provides various digital media-based products including web sites, mobile apps, digital graphics design and their big project, video games.

"For the past five years, the Innovation Center has invested financial and entrepreneurial training in the next generation of student entrepreneurial leaders. Instead of taking a ob, our students are making a job and career for themselves and others," stated Karl R. LaPan, President and CEO.

For more information, contact Student Venture Lab Program Manager Mike Fritsch at 260-407-1754 or mfritsch(at)niic(dot)net.

Live Capture Sound LLC, Jeremy Harmeyer, can be reached at livecapturesound(at)gmail(dot)com.

D-n-S Design Company, Lindal Walker, can be reached at dnscorporation.email(at)gmail(dot)com.

Northeast Indiana Innovation Center (NIIC) - NIIC is a non-profit, community-based resource center that catalyzes the growth and development of innovative companies in Northeast Indiana, thereby diversifying, improving, and growing the region's economy and enhancing our community's vitality.

NIIC’s Student Venture Lab is made possible by generous contributions from The Lincoln Financial Foundation, iAB Financial Bank, The Edward M. & Mary McCrea Wilson Foundation, and private individual & corporate donors. Any future proceeds from NIIC’s equity investments in Student Venture Lab ventures will be reinvested in support of the mission to grow the next generation of student entrepreneurial leaders. Interested in applying for an investment in your student venture or business? Contact Mike Fritsch at mfritsch(at)niic(dot)net for more information.

Check out our angel funding blog at http://indianabusinessfunding.com.

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Karl R. LaPan, President & CEO

Michael Fritsch, Entrepreneur-in-Residence
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